Insurance tips to protect expensive electronic gifts


Planning to get or give a flat screen TV, a new laptop, or a smart phone this holiday season? If so, you aren’t alone. For the first time in more than 25 years, electronics are virtually tied with toys as the top Christmas gift item, according to holiday shopping polls conducted by America’s Research Group. CEO Britt Beemer says, “Electronics sales, especially flat-panel TV sets, are flying out the door this Christmas season.”

The Insurance Information Institute offers good advice for protecting your expensive electronics. Among some of their suggestions and ours:

  • Contact your insurance agent to find out if your current policy will cover the new equipment or if you need additional coverage
  • Learn what your homeowners or renters policy does and doesn’t cover and what your dedutciblesare
  • Learn what your credit cards and product warranties will and won’t cover. Be sure to fill out any warranties
  • Keep a copy of your purchase receipt
  • Add the new item to your home inventory
  • Read the product manuals to learn how to properly set up, maintain, and clean your new electronic goodies
  • Invest in good surge protectors but even those won’t protect your equipment from lightning. The best protection is to unplug expensive equipment during electrical storms

See more in our post from last year: Make sure your expensive gifts are protected – insure those valuables!